Author: lbostgadmin
Japan proposes 16-nation Asian trade bloc: officials
KUALA LUMPUR, Aug 17 (AFP) – Japanese officials on Thursday proposed a sprawling 16-nation free-trade grouping with China, South Korea, Australia, India, New Zealand and the 10-nation Southeast Asian bloc, officials said. The 16 last year formed the East Asia Summit — seen as a precursor of a giant free-trade community embracing half the world’s […]
Japan ups tea imports from Sri Lanka
August 16 (LBO) – Japan has upped its purchase of black tea from Sri Lanka in recent months, as quality of local tea improves and exporters comply with tougher standards. Exports to Japan were up 32.28 percent to as at end April this year to 3558 kilos of black tea, just behind China as top tea […]
Finance Rating
August 17 (LBO) – Fitch Ratings has given the flagship finance company of Sri Lanka’s Ceylinco Group, a BBB (lka) rating with a stable outlook, the rating agency said Thursday. Established in 1940, TFC has 32 branches. The Finance Company (TFC) is a listed company with an asset base of 25.2 billion rupees is largest […]
Clear Run
August 17 (LBO) – Sri Lanka has got two bids with German and Malaysian funding to build 16 flyovers and interchanges in Colombo over two years, officials said.A group of local construction firms with funding from German state bank KfW and a Malaysian firm backed by Malaysia’s Export-Import Bank, put in bids. The government has […]
Central bank holds Sri Lanka policy rates steady in August
August 16 (LBO) – Sri Lanka’s central bank said Wednesday it was holding rates steady, but warned that fuel subsidies were putting pressure on the balance of payments. The rate setting monetary board had decided not to raise policy interest rates but rely on open market operations to slow money supply growth, the central bank’s […]
Canada calls for ceasefire in Sri Lanka
OTTOWA, Aug 15, 2006 (AFP) – Canada called Tuesday for an immediate ceasefire in Sri Lanka and a resumption of peace negotiations between the Sri Lankan government and the rebel Tamil Tigers. “Canada believes that there can be no military solution to this lengthy conflict,” Foreign Minister Peter MacKay said in a statement. “We call […]
South Africa pulls out of Sri Lanka cricket series
Aug 16 (AFP) – South Africa have pulled out of the limited-overs tri-series against India and hosts Sri Lanka due to security concerns after a deadly bombing, a Sri Lankan cricket official said on Wednesday. Australia and the West Indies refused to play their World Cup matches in Sri Lanka in 1996 when a powerful […]
Maldives frees democrazy activist
Aug 16 (AFP) – The Maldives said Wednesday it had freed a leading opposition figure as part of efforts to move the island nation towards multi-party democracy. Jennifer Latheef, who was jailed for 10 years on terror charges linked to a 2003 pro-democracy riot, was pardoned and released, the Maldivian government said in a statement. […]
Oil steady on easing Middle East concerns
SINGAPORE, Aug 16 (AFP) – Crude prices were steady in Asian hours Wednesday as traders breathed easier over the Middle East after the UN ceasefire in Lebanon took effect, dealers said. British energy giant BP’s announcement Friday that it would keep pumping oil from its Prudhoe Bay field in Alaska was also a relief for […]
Tea exporter in Sri Lanka to get incentive fees for value addition
August 16 (LBO) – Sri Lankan tea exporters can tap into about 30 million rupees in cess funds being given this year as an incentive for value added exports of Ceylon tea.Exporters can submit claims based on volumes exported, proof of value addition under Sri Lankan brand labels, provided pack sizes are under three kilos, […]
Climbing Up
August 16 (LBO) – SriLankan Airlines said Wednesday that it would raise fares by end August for the third time this year, to cope with soaring fuel prices, even as it trims costs onboard its aircraft. Fuel prices are on an upward trend and we will have to pass it on, there is no other […]
Security in Sri Lanka capital stepped up
Aug 15 (AFP) – Sri Lanka Tuesday stepped up security in Colombo after an unprecedented bomb attack on a diplomat, while all schools were shut amid fears of Tamil Tiger reprisals for an air raid that killed dozens of children. Police said new parking restrictions were put in place in the capital after a Claymore […]